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Mortgage Rates

December 19, 2013 | By E. Scott Reckard
Mortgage rates rose a bit this week following positive news on home building, with Freddie Mac saying lenders were offering a 30-year fixed-rate loan at an average of 4.47%, up from 4.42% last week. The average for a 15-year fixed was 3.51%, up from 3.43% last week, Freddie Mac reported Thursday. Its survey assumes borrowers have solid credit and income, provide at least 20% down payments or home equity, and pay less than 1% of the loan amount in lender fees and points. Start rates on popular types of adjustable rate loans also were higher, Freddie Mac said.
October 3, 2013 | By E. Scott Reckard
Mortgage rates have tumbled for the third straight week, with Freddie Mac pegging the 30-year fixed loan at an average of 4.22%, down from 4.32% last week to the lowest level since June. But what good is a low rate if a lender can't process your application? A protracted government shutdown would hamper the ability of lenders to confirm borrowers' incomes and identities, as well as threatening loans that are backed by agencies such as the Federal Housing Administration. “The federal government shutdown will have a growing impact on the housing market the longer it continues,” David H. Stevens, president and chief executive of the Mortgage Bankers Assn., said in a statement Thursday.
March 13, 2014 | By E. Scott Reckard
Mortgage rates edged higher early this week, with Freddie Mac's survey showing lenders offering 30-year fixed-rate loans to solid borrowers at 4.37%, up from 4.28% a week earlier. The average rate for a 15-year fixed home loan rose from 3.32% to 3.38%, according to Thursday's report , and the start rate also rose for variable-rate loans with an initial five years at a fixed rate. Analysts said a positive report on employment late last week contributed to the trend. The economy added a better-than-expected 175,000 jobs in February despite harsh weather, the government said, and figures for the two previous months each were revised upward by 25,000.
October 25, 2012 | By E. Scott Reckard
Mortgage rates edged higher early this week from their recent record lows, with the average interest on a 30-year fixed-rate loan rising from 3.37% last week to 3.41%, Freddie Mac's latest survey showed. Rates on 15-year fixed home loans averaged 2.72%, up from 2.66%, according to the survey released Thursday morning. It is based on what mortgage lenders say they are offering to solid borrowers with 20% down payments. Rock-bottom rates are supporting the recovering housing market and a big wave of refinance mortgages.
June 8, 2003 | From Times wire reports
Mortgage rates continue to fall, marking the fourth straight week and the ninth time this year that they fell to new lows. The 5.26% average rate on 30-year fixed-rate home loans for the week ending Friday surpassed the previous low of 5.31% the week before, Freddie Mac reported. The average on 15-year fixed-rate mortgages also fell to a new low of 4.66% from the previous low of 4.73%. Rates for one-year adjustable mortgages dropped to a new low of 3.59% from 3.63%.
February 6, 2004 | From Associated Press
The average rate on 30-year mortgages increased to 5.72%, up from 5.68% last week, Freddie Mac said. For 15-year mortgages, a popular option for refinancing, rates rose to 5.03% this week, up from 4.97% last week. Rates for one-year adjustable mortgages increased to 3.61%, compared with 3.59% last week. The nationwide averages for mortgage rates do not include add-on fees known as points. Each loan type carried an average fee of 0.6 point this week.
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